I am in the process of selling my maisonette in Paddington and the EA has just text me to warn that the purchasers are changing their law firm. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a major lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Paddington ?

Banks have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Mortgage companies blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.

Can your site be used to recommend a Conveyancing solicitor in Paddington even where I’m not purchasing or selling a house, for example where I wish to acquire an office in Paddington with a mortgage from Godiva Mortgages Ltd?

Our search tool is predominantly utilised to find domestic conveyancing solicitors in Paddington but we have recorded towards the bottom of this page a selection of Paddington commercial conveyancing firms. You will need to make contact with the solicitors directly to see if they are also authorised to represent Godiva Mortgages Ltd

I completed on my flat on 9 June and the transaction details is not yet on the land registry website. Any reason for this? My conveyancing solicitor in Paddington expressed confidence that it would be formalised inside ten days. Are titles in Paddington particularly slow to register?

There is nothing unique when it comes to conveyancing in Paddington registration formalities. Rather than based on location, timeframes can differ depending on who lodges the application, whether there are errors and if the Land registry must send notices to any interested parties. Currently in the region of 80% of submission are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Historically registration takes place once the new owner is living at the premises therefore an expedited registration is not typically an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers can contact the land registry and explain the circumstances.

I am looking for a leasehold apartment up to £235,500 and identified one close by in Paddington I like with a park and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Paddington in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?

Should you need a mortgage that many years will likely be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.

My 20yr old son is about to join the property ladder, he had his mortgage in principle. One the offer was accepted on flat we rang the mortgage company to move forward with his. We were shocked to learn that mortgage lenders do not accept all conveyancer, they must be on their panel, is this legal?

Banks normally restrict either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Paddington property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.